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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) An issuer may, without an election, issue a bond:
(1) to be exchanged for a damaged bond; or
(2) to replace a destroyed, lost, or stolen bond.
(b) A replacement bond may be issued under this subchapter only for a bond that is outstanding and that was lawfully issued.
(c) A replacement bond issued under Subsection (a)(2) must be issued on indemnity satisfactory to:
(1) the issuer; and
(2) the trustee if the bond being replaced is secured by a trust indenture.
(d) An issuer may require an affidavit or another form of evidence satisfactory to the issuer to establish ownership and the circumstances of the damage, destruction, loss, or theft of the bond.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1206.002. Issuance of Replacement Bond - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1206-002/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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